Following is information for 2022 Budget Actual Indirect costs $220,000 $300,000 Annual salary of each employee(direct cost) $100.000 $110,000 Annual salary of each trainee(direct cost) %24 25,000 $30,000 Total labor hours 50.000 dih 60,000 dih What are the budgeted direct-cost rate and the budgeted indirect-cost rate Frespectively per labor hour $400 $35 00

Q: ustomizing cost

A: Cost accounting is one of the accounting system that is used by the businesses. The main purpose of…

Q: Examples of transaction costs

A: Transaction costs are the costs which occur during buying or selling of services and goods. They are…

Q: Define relevant cost.

A: Relevant cost is a cost which can be changed with change in selection of a alternative decision.…

Q: What is normal costing?

A: Normal Costing Normal costing is refer as the method of costing which helps for derivation of cost.…

Q: Define period costs.

A: Period costs are not joined to items and the company does not need for Offer on Sale of items and…

Q: Define the term Cost approaches.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Distinguish between indirect costs and direct costs.

A: Direct Costs and Indirect Costs are two important costs. Direct costs are those costs which are…

Q: The product cost  period cost  opertunity cost

A: Solution:- 1)Calculation of product cost as follows under:- Product cost means costs incurred to…

Q: Explain Classifying Costs for Predicting Cost Behavior?

A:

Q: What is cost management?

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Adoption of Activity based costing?

A: Introduction:- In this context, the question is asking about the factors that influence the adoption…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.